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tv   Cavuto  FOX Business  August 6, 2013 8:00pm-9:01pm EDT

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♪ neil: finally, the president kicks ready and fanny and heinie. now i'm all about taking them to the curb, but i'm neil cavuto. better late than never after taxpayers 0,807,000,000,000 to keep mortgage lender fannie mae and freddie mac afloat, the president saying now is the time to set them not to seek. that is the good news. here's the bad. he still wants the government to have a role in the u.s. mortgage market, a backstop, as he calls it. isn't that what caused the problem in the first place, the government acting as a guarantor of the back mortgages. does not automatically make folks to provide the more reckless? get the big guy backing me have. then they tell their easily
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hoodwinked customers that the government is backing you up, too. i don't think so. especially now that the housing seems to be on firmer footing, what better time to loosen the government constraints. that the free-market decide state. technique rarely if ever works. one thing that is clear, the role that government played for years magically propping things up, not releasing the system, gumming the system, and all but making housing not a goal of medan near our birthright. i commend the president for taking of the training wheels. the problem of -- the problem is he took off only one wheel. my father did that, but i just thought it was a cruel joke. now made billions of it and getting off it. always with uncanny timing. he sold off the bulk of his properties at the top of the real-estate market in 2007, $39 billion. his equity residential
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real-estate trust is one of his real-estate investment vehicles. he invented them. continues making money hand over fist buying of distressed property, turning now around, making money even faster. revenue for those properties that the company is operating income of five percentage at the latest quarter and an operating income which is a good reflection on how well the properties were run and managed. now close to six. so much to get into including another billionaire who established such media purchases with some insight and warning from them. you might want to cover your ears. before we get to send a newspaperman, the real-estate man. the president back to being a realistic man himself and sailing -- sitting realistic what began. what do you think? >> i think that fannie and freddie were originally created as a supplements to the housing market. and then as time went on it slowly became the housing
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market. and it became a government controlled entity. juneau, whether it was, you know, the famous comment about keep dancing and barney frank, you know, doing the same thing with sub prime loans in the early 2000's. basically that contributed to the issues. neil: the government was there as a backstop, protecting these things like figured house. encouraging the very kind of activity. >> but the basic premise was that fannie and freddie were supposed to be independent, for profits. neil: but there were not. >> that is a problem. therefore, if, in fact, the president goes through the party is talking about, i think that would be a very positive thing and would protect us in the future. neil: but you hear what he is talking about. he was talking about getting them out for mob of replacing them with something i guess kind len chandler. you argue there is nothing. >> i guess -- there is a
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proposal that two senators. widen and corker where they, in effect, want fannie and freddie tested back. neil: within five years. >> and that every issuer assembler of mortgages would have to retain an interest in any mortgage that was securitized. neil: in other words, you cannot sell it again or repackage it. so this. >> that is really what happened, they can't pass in the paper and someone opened the can and they were rotten. neil: you think the government is to blame? go back to the community reinvestment act where it went from a gold to darn near a birthright. we were pushing everyone to get homes. every president likes to brag home ownership went up under my stewardship. maybe we pushed too much. >> i think as you look at the statistics and go back to the end of world war ii, we have had
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a surplus in single-family housing every single time we have gone above 63% home ownership. this time you get to 69. that was higher than it had never been. neil: skip it back. >> i think it has a ways to go. neil: you are not buying this housing bill more whenever we're calling it? >> i don't know the word boehner as appropriate. i am pretty much more in the cynical can't. neil: you see housing -- it is certainly not what it was. one analogy, it is off the map but not exactly off to the races. neil: well, the housing market, first of all, still has a couple million houses in purgatory, i.e. not foreclose cannot resolve, kind of hanging out there. that is a lot of supply that has to work itself through the market. if you look at the concentration
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of acquisitions recently, use the enormous concentration of investors buying in certain selected markets which is having a positive impact. neil: down in phoenix where the president was today. i am sure that is not coincidental. what do you think a working through the inventory that was often forced levels. you're saying we're due for another dip? >> i'm not suggesting we are due for another dip or meltdown. neil: what are you saying? >> i am just suggesting what i am hearing with reference to the single-family housing market i don't think will meet the test of time. and look, i mean, we just had another company go public this week. american home something, forensics is called. and is trading below offering. that is hardly a signal of some kind of a hot market. neil: you argue that in order to
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keep good time sustained you actually need good numbers, jobs, the court things that people from non today but still the same court believes keeping the economy going. and while joblessness is not what it was, it is still pretty bad. what does that mean for the economy, recovery, housing? >> i think you have to start with that state unemployment number we keep using which is the unemployment number of those people who claim that they are still looking for a job, but there is an equal number of ppople who plan may have stopped looking for a job. neil: you don't buy this. what do you think it is? >> fifteen, 16. and that is a very real number. everything comes down to a -- we all took economy 101. you walk to the class from the first day and on the wall is says supply and demand. the problem we have in america and around the world today is
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that there's a lot of supply and not enough demand. and we need to focus not on redistribution of wealth but on the creation of demand that ultimately is what will create better times for everybody, better jobs for everybody, and a better future for the entire country. neil: you have made money in good and bad markets alike. your purview, commercial real estate, has been largely linked to what has been going on in this city. they just sold a couple of $90 million penthouses' of essential part in a building going up. the properties, usually sell for cash. commercial real-estate is hot, hot, hot. deasy that continuing or do you see that it is just a matter of time before it hiccups? >> i think that commercial real estate, first of all, your description of it is a little
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extreme. i do not think it has been so terrific. neil: it has been -- >> i was going to say it has really been terrific in new york city. neil: chicago. >> and in san francisco. a couple of other markets. but -- neil: better than residential. >> that is like comparing leprosy cancer. if you look at the multifamily market, that has done extraordinarily well. people are still growing. neil: they love to rant. >> well, you have to take into consideration the fact that there has been a change. i mean, as you mentioned, we all believe every day the price of your house went up. no one believes that anymore which raises the question with
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the next generation about what extent they really want to make a commitment. if you read what they write in the way they live it would suggest that they are less focused on commitment and more focused on enjoying their life. neil: you're right about that. you mentioned also, the new coming ipos in this arena that emerge and don't do well. a real estate investment trust that would get knocked around for the fear that ben bernanke was going to the -- the tapering in interest rates would go up. what you think of that, that this is a promise for you? >> well, i mean, real estate has as its gasoline capitol. and so obviously if interest rates are going to go it is going to be -- you are going to be affected. neil: what have you done to prepare the -- prepare?
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>> number one, you start with, were you on the properties? what kind of properties are they? the company look like equity residential owns a collection of multifamily high-rise properties that are just unmatched. and they did extraordinarily well through the downturn. neil: where are they? >> they are in basically 24 / seven cities, high-rise. neil: what is cdt? >> kind of, you know, and close. that is where the ranchers want to live. and renters are basically white collar, a lot of single people. an amazing number of single people. neil: really? >> yes,. neil: moving and by themselves? >> just a population that has changed. neil: estimate has. >> fifty years ago you had very few single people are relatively few. a lot more single people living. neil: i'm not as old as you.
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>> that's true. nobody is. neil: stick around. a lot more going on, including this. a front-page cover on the washington post the release says it all. an icon gone scooped up by a billionaire businessman. still unknown. but does he know what he is getting into? it turns out less to say that he has been there, done that and tell with a lot of grief. he is not going about journalists like me, but it is interesting what he thinks abouy my breed.ioee after this. ♪ and 900 million dollars are changing hands online. that's why hbuilt a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together.
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♪ >> big news, the founder of amazon is buying the washington post. >> the family has run the washington post for four generations, but that is coming to an end. >> a stunning announcement. amazons ceo jeff bezos is buying the washington post. >> the news was so big, and it was announced on the sticker on the "washington post" building. >> a sign of our changing world, news that a celebrated newspaper, the "washington post," has been sold. >> a stunning and sudden sale of one of the nation's most influential newspapers, the publisher of the "washington post" announced today it is selling the paper to jeff bezos. neil: we love to talk about ourselves, don't we?
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anyway, the betting is that this billionaire is serious and wants in on newspapers because newspapers are cool. maybe not the physical watching for which each is paid 250 million, but the online potential for which we are told is amazon billionaire apparently thinks the possibilities are endless. you are entering a whole other world. when he scooped up the tribune back in 2007 and took on the big names and i might mention big egos behind the likes of the chicago tribune and l.a. times, he too thought that he could extract new savings and leverage even bigger assets from those well-known brands. things did not turn out that way, later filing for bankruptcy , but in retrospect he said i have a meltdown that no one even the brilliant investor himself could never have seen coming. good to have you back on this. jeff bezos, big plans, big hopes. what will happen? >> well, i think to begin with
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if you were to compare my situation to his, i bought the tribune company as an economic investment. now had a plan. i hope it will work. i -- it was totally economically driven. neil: very unusual. >> i don't want to go into everything. basically with the values that existed at the time we thought that we had made significant opportunity to have -- neil: will wear long? >> within the first 30 days national retail revenues dropped 30%. there is no bbsiness like that that can survive that kind of a drop. continued. it was not just an aberration. that was the beginning of the dramatic change in the value of all of the newspapers. the boston globe sold for a
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billion three nl it sold for 70 million. newsweek. washington post. everyone focused. they are not looking at the fact that there is also a bunch of other little papers and stuff that have value. he is really paying significantly less than the headline. but in the and think about what he just did. he just ran 16 different versions of everybody making this announcement. you would think we bombed hiroshima. this is a $250 million transaction. you made reference to my $39 billion transaction. i didn't get 20 anchors yelling about it. so that is the problem. neil: i did at the time. let me ask you. one of the things you did not plan on running into, the economics notwithstanding, just the egos and a lot of journalists at the newspapers you but did not like you or some of the cuts you were envisioning
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of the fact that you are rallying around and saying we have to do something to fix this in my experience newspaper people aren't -- has leased a greedy as anyone else and what did you mean by that? >> well, you know, this illusion that they and lloyd bank finance doing god's work. and therefore if he is doing god's work he should get a pass on economic reality. he should get a pass when revenue goes down 30% instead of lowering the head count. he should maybe increase it. neil: how would you spend it? you are the boss, after all. why didn't you go back there and say, whenever your pie in the sky box we are losing money when you are not getting it, and we have got to get it. >> the problem comes down to some great philosopher, i think it was confucius to said, never pick a fight with a guy who buys ink by the barrel. and so --
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neil: you on the barrel. >> that is what i thought. that is what jeff bezos thinks. what i found out and what he is going to find out is he does not neil: that will turn on him? >> probably not. neil: what did you do? >> i laid there until i got better. if you don't have a thick skin, i can't come and be on your program. neil: with all your other real-estate holdings, were you saying, we have to change things, we're losing money fast. was a difference in telling those guys and journalists guys? with the journalists think they're doing god's work. therefore that is a different standard than where everyone is economically tied together. neil: did they think you were stupid american? >> arrogant is a much better word. the difference between a newspaper person and an academic is small.
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they'll both run in the same scenario of thinking that they're doing -- after all, they're very educated and have done well academically. neil: how many business courses? >> i know of any because as to my experience to have a lot of trouble adding and subtracting. neil: of the problems -- file was examining newspapers and editing that make money in those that do not. it is not hard and fast. fox news is doing pretty well. the "wall street journal" is making money. "usa today," a counterpoint. i would not say a super conservative paper, not super liberal either, but revenue and subscription increasing. i like all of that and say, you know, fair and balanced, at least during the other side of balancing out the liberals think at least from the right. seems to be a money-making or better than money-losing proposition, but when faced with the same dynamics they won't
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change. >> i think you have to really make a distinction between something you can't compare fox news corporation to the new york times. neil: i think you can. in this respect. try all points of view. >> from my point even the examples you made of positive return, if you look at how much the investments were, returns sunk. so basically the newspaper business. neil: you think newspapers are a whole other beast and to themselves and no matter how much things improve online you will need to get people to buy online, and very few still do. >> that's correct. neil: when you explain that to your colleagues at the chicago tribune and at the l.a. times and the greater tribune company, what to they say? >> you don't understand. in a, you need to understand how
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important this newspaper is. my answer was, if the newspaper was so important, why are more people buying it. neil: they said what? >> not much. neil: as a body that to this day when i look at clippings on you, they hate you? >> i mean, you know, in many respects i really think that i am the little guy that pointed up and said the emperor had no clothes. all of a sudden really the tribune began the demise of the newspaper industry. it became obvious that it was not economically viable. neil: to be had to do it all over again. >> i think would have. based upon the facts and of the time. we fisher got sideswipes. but the answer is i take risk for a living. now have to be prepared.
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neil: why the guys like you do that? and of the investment and intrigue, but in your case i don't know you well enough to say this. for a lot of the guys who dabble in the san buy into media, it's like a trophy project. i don't know. >> it's like buying a football team. neil: why? >> ego, terrific, a sense of power, a sense of control, i own the to be an eye on the l.a. times. so that -- neil: did not get any good press from it. >> and on the first day as several have nothing to do with editorial policy. neil: did you decide to go the other way? >> if you're in a business that is shrinking very rapidly and inexplicably nobody is happy. i was not happy. neil: could your supporters of save the? >> it depends. jeff bezos may view this as an investment.
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he is doing it for the good of the country and things that the "washington post" is a pillar of the intellectual community and maybe it is. neil: the thing to sell them thinking may you have to be liberal. you have to like a point of view. he calls himself a libertarian with a small al. he is a kind of in between libertarian and supports cam marriage, does not like surtaxes on the wealthy. so he kind of -- >> but his views, i'm -- they are not the views of the people writing the editorials in the "washington post". neil: and he will find that out the hard way. >> it is unlikely they will change their views. neil: interesting. hang in there, if you can't. so much we really don't know about jeff bezos. his people say, as i said, that he is libertarian. but if he is like other high-tech, high and mighty, buying a platform to push a cause or using his share with --
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neil: also, i want to say, dressing up for this interview. if you're a billionaire, you can dress however the hell you want. back on billionaires' with causes. they all seem to have them. as if anything were markedly consistent as of late is immigration reforms. a very hot to keep the main town and not chase them from here. a lot of millionaires, not all. sam, not you. why not? >> first of all, i think the
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whole emphasis on immigration reform being kind -- hpv one visas, i think that is a very -mportant cause, but that is not my cause. might cause is that this country was built by immigration. the strength in being -- the weakness of america is all about immigration. if we do not continue that immigration policy, if we do not continue to make this a welcome place for the world, our society will suffer accordingly. neil: but part they are hearing that we are over welcoming? >> have you been able to get anybody to do your lawn recently? a mean, if we have all this oversupply, why can't i find somebody to remodel my house? you know, these are all real things. why can't the farmers --
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neil: you are in sync with a lot of these. they are more focused on the high-tech. >> and i am very supportive of the high-tech as well. neil: the one extended everything. >> you have to understand. i was born 90 days after my parents came to the country. that gave me a perspective on what america was and what the opportunity was. that drove me, and it has driven millions of immigrants like me in the past. neil: to you think that those immigrants, whether here illegally are not are getting angry republicans? >> i don't have a political view i frankly think -- i mean, i voted republican. i am a supporter of a lot of the republican views. yet i think the whole border security thing is insanity. neil: really? >> spend $40 billion to build -- i mean, there is no more immigration from mexico. they are going the other way.
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the jobs are in mexico today. let's face up to reality. we cannot fight the last war. with this whole immigration thing, my thing is it is fighting some kind of the last war. you are afraid it is the 30's and all of this immigration will take away jobs. neil: republicans making much ado about nothing. >> well, i think that in a moral society you have to have rules. we have rules. there are 11 million people in this country who broke the rules we should have dealt with them 11 million people ago, but we didn't. now we face of to to what we have done which is allowed and interest and supported a 11 million illegal immigrants to live in our country who are part of our society. and we have to take a deep breath and say, okay. we have to think about the
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future and the fact that this country would benefit from the integration of these people. it is not healthy to have people who did taken advantage of because of their immigration status. neil: a lot of billionaires' whene'er question on this subject about the rich pay more taxes say yes. >> yes what? neil: they should. it is one thing for a billionaire to say that because they're in the same camp or counted in the same camp as the 300,000 something dollars a year executive. we should delineate more. having said that, how you feel about paying more taxes? >> i think that i can't tell but look at what might taxes are being spent for find the lack of discipline, kicking the can down the road. not facing up to reality. it can be very difficult to handle and except.
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the people they took us here, we should give them more resources to spend on ridiculous programs. it does not make any sense. i think that -- and therefore, i cannot support paying more taxes to an inefficient government that we have. and sometime in the future if we actually had a viable efficient government i don't think you would need rich people to pay more taxes. you would have effectively not squandered it on score lessons or other crazy things. neil: what do you think of the republican presidential wannabes? >> well, i know chris. i think he is terrific. i think he -- if you had a choice. >> i am not --
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neil: hillary clinton? >> in the past have not been a big fan. the last five years have made me a very big fan. neil: what is it that she has done? >> she did not elected. [laughter] neil: rand paul. >> you know, not mainstream. he is making his points. he is a true libertarian. i think he really believes -- and a think that is great. neil: you're not a libertarian. >> not the way you define it. neil: what a pleasure. next time, and speak your mind. we don't know where the hell you're coming from. maybe bring a tight. all right. jeff bezos, were you listening? [laughter]and you woul ♪ dn other way. dn other way. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafie helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet
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that the "washington post" is a pillar of the intellectual community. maybe it is. neil: you think they said, maybe he has to like -- he calls himself a libertarian. but he is kind of in between. libertarian, supports gay marriage. he does not like surtaxes on the wealthy. so he kind of -- >> but his views are not the views of the people who are wrecking the editorials in the washington post. neil: you will find that out the hard way. >> it is unlikely that they will change. neil: all right. well, maybe some ideas. fair and balanced. all i know is media make good money offering it. look at fox, the "wall street journal," usa today. may be give a shot.
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what do you think? >> i think actually it will be a fascinating thing to watch. to get all of the post for less than 1 percent of his net worth he had to agree that he is that going to change anything at the top. the publisher, the president, the editor in chief, opinion editor keeping all the same people and get coming in to make big changes. how can he do both at the same time? and dying to see what he might do they get it more hip and to do what he did with the candle. neil: that this is all bowl. >> is interesting that the family who control this for years, since 1933 said they would not pass this over to someone with a different value system or a different world view. that tells you right there that you will see the consistency. i don't think you will see an abandonment of fierce ideologues. the principles that they value, the very academia-based, you
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know, set of principles will go with them. he may face some resistance. neil: you know, i could be wrong, and i don't want to be cynical, but i don't think it was that high and mighty. not a long line of people interested in buying. it's -- if iran but had come forward they would have taken it. >> this is the company that did the sell-off newsweek magazine for a dollar to another billionaire who then ccmbined it with another billionaire, the daily beast. now newsweek is now worded be found. one thing bothers me, you heard him just say, look, i bought it as an economic investment which is what print properties need to be. i don't want print. at newspapers for 25 years. i don't want it to become the purview of billionaires' who will take on a nonprofit kind of function. for 250 years toward ever that
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was, profit model. you have to earn a profit, be a good business to survive. i not think this should just be a pastime for a guy that can afford to lose. neil: i always say, it is the free press. that does not mean you can do for free. >> also i don't think there would have taken every once offer. i heard rush limbaugh on the radio saying, if i offered them a deal i have a feeling it would not have taken me up on it. it is more important that they stick to their political persuasion. they have a value system. retain the political influence in the community. neil: you make a good point. many newspaper editorial board that would sooner kill themselves off and make adjustments. but get a huge controversy when it was rumored that the controversial energy billionaires' were looking at the l.a. times.
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horrors, never mind that were founded decades ago by the chandler family which open and started as a very conservative newspaper. the overall media mainstream as a liberal they just go into a paroxysm of panic of thought. but by the way, when i worked for ford to my work for the wall street journal. we certainly thought that we were doing god's work. any time in his room wanted to cut anything we rail against it because you're interfering with the importance of covering, and we just did not get it. that attitude, it is time for that to fade. one reason the newspaper business lead and was losing for 30 years is because we're doing god's work attitude which has been a problem. neil: at least you sold off the faberge eggs. >> i work for a publisher that wants to make money. i need to do whatever i can. that kind of preciousness in the newspaper industry has hurt the
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industry. >> the silver lining as we are in a digital age and maybe we will see some modernization push the industry forward. he has things to offer and is interested in long-term investment. if you want to be up on the trend, this is a guy for it. let's see what happened. >> i had a conversation with rupert murdoch before he ever been on the wall street journal. i was preaching how great it wwuld be. it is not the fading thing but a collection of the best writers in the world. and that is a business. he said, but the new stuff, the digital is only one-tenth of the old stuff. the problem is the trapezes. newspapers of still not quite made it. inventive ideas like the daily, that foundered and went on the business. still figuring a way, but these guys are buying in so cheap. somebody can make money. les -- newspaper margins are
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down the 15%. michael dell would kill for 15% margins. neil: the bottom line, prescriptions are up, doing rick folbaum. >> all those numbers include online. the journal was first. it is working now well. >> he said i take risk for a living. neil: interesting that he said that. >> egos as journalists is no news to anyone. neil: one thing the we love about ourselves, very modest. >> driven by ego and ambition. neil: careful, young lady. when we come back, prefer was right. the dumbest car i have ever seen. it will lead to a lot of divorces. i watched for commercials. this looks stupid. it is going to lead to -- lee to marital discord. i bet you were going to plug it in.
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♪ neil: they will, except if it is a chevy volt and only confirms the whole plug in thing is i. cutting mr. another 5,000 really does not make this high-tech with wheels and a less than a hybrid. people are not buying it. all the government credit in the world will not make them like it. get a clue and stick a plug in this until it mercifully. let's get to it. what do you think? >> well, i mean, the volt needs to be put out of its misery. does anyone believe that a car that cost twice as much income go half as fast with a quarter of the range would catch on? the cut the price and no one wants it. $7,500 tax subsidy and no one wants it. it's like the widely shared the does not fit on iraq.
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the whole reason -- retail price is down 50% in 1 year. they sold it to us like it was an innovation. an innovative vehicle. it is not because it has to be charged up. you have to dispose of the batteries which is bad. neil: common sense. to that point a lot of people think i am anti hundred cars, i am not. the technology that exists which is great, a lot of them get a lot of miles per gallon. a lot cheaper price. they're great. but you have to learn at one point to a fish or cut bait. time on this to cut bait. >> well, first i am trying to figure out what the vanity plate for turd with wheels is. [laughter] i think i want that. but having said that, one of the things i think is really hard.
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i think we can all agree that a government has a very tough time cramming down consumer behavior and demand. they think they can predict it and think they can incentive and think they can manage it. time and time again they cannot. that is the first. the second, nothing is harder than trying to change an ecosystem, trying to change beta max into vhs or get people to use a blackberry when the constellation around it is not there. retail prices are not there. spare parts and not there. and yet our government will time and time again say we can build this ecosystem. well, you can't. neil: apparently they will buy something because mickey mouse is having trouble. folks said disney are digging it, profits up even though they did falls shy of estimates. there were on fire. those are not cheap theme parks. what we learn from that?
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>> well, profits are up, revenues are up. they're doing great in a cruise division. they're bringing in international guests. in the third quarter there will take a charge for magic fans which essentially take the credit card entire to wristband and put it on your kids come alive, and you can charge the credit card out of the pocket. that will generate more revenue. >> the drop in national debt within a day. neil: what do you think of that? >> well, disclaimer. if the parts are run. a brilliant guy. and he's doing something i think he has not talked to me about, but this is the directton they're going in, basically saying we have an economy where our average home income is dropping. we have consumers at least on some end of the scale with out as much money. we know this is something
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they're is a big and thriving group of that will pay to come. what we will do is find a way they get more revenue out of those who show up. think about the magic banned as a big investment to free up people's wallets and let them spend more freely so that if i have fewer consumers but higher end, i consult more dollars out of them and it is working. neil: i was thinking if i gave my wife a magic and.÷ that could be a disaster. all right. thank you very much. good seeing you again. meanwhile, tsa workers, the folks who pat you down before you get in the air are taking ♪ fo take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card. [ garth why settle for less? ahh, oh! [ garth ] great businesses deserve limited reward here's your wake up call. [ male announcer ] get the spark business card from capital one and earn unlimited rewards.
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does breathing with copd weigh you down? don't wait to ask your doctor abo spiriva. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyons in the spirit of sharing. hey, can i borrow your boat this weekend?
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no. [ male announcer ] share more. save more. at&t mobile share for business. ♪ neil: quick. the irs and tsa have in common. they're both rewarded for mediocrity because it would do well targeting conservative groups. the federal action commission and sharing info. the taxman is still the man.
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many have the tsa pad down guys, some of whom apparently stole stuff from moss light laptops and then let the bodies pastor security lines. going to a public event near you. what do you think? >> i'm out of here. the tsa, no is this, every time i get on a train i think about how easy it is to plan something and i'm hoping someone will be making sure that nothing happens to us because as much as the airports are regarded the feel uncomfortable. it's not -- neil: i can't believe. >> you are. what happened. part of this expansion with this
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whole viper team -- neil: they are armed. now it's like israeli security personnel. >> they are also at stadiums. neil: the rodeo is weird. >> how many terrorist attacks are on rodeos? is very strange. neil: have you ever seen the clowns? >> it freaks me out. >> ron reagan's old same as something so permanent as a government bureaucracy, cockroaches, share. >> you talk to people law-enforcement and the path trains, new jersey to new york is an incredibly high terrorist target because of the blow that up a certain point under the river will flood the floor of the house. neil: these other guys.
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>> i would hope that the homeland security department or somebody is buying the best people in charge. neil: c.s. rewarding mediocrity. >> two is and? neil: all of a sudden we will stand by. >> the same people. his race is said to be taken off. he cannot go through the metal detector. these are the people in the stadium. neil: the 5-year-old was very loud. but this is the people now. neil: you would say just keep it. >> i would say to you, i hope and i trust the people who are in charge to tell me your the best people to protect me are. nypd has problems. neil: fair enough. >> backlash, political talking for a lot of candidates who will run for major office.
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-- the tsa. neil: we will see what happens. still on. and after the billionaire, another one, the head of syria's ex-im. the keep on coming. so the league. ♪


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